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A Kiplinger report dated for November 2026 argues that industrials and materials have historically performed relatively well in November, including in election and midterm years. The supplied source excerpt names SPX Technologies and GXO Logistics as industrial picks but cuts off before giving the full four-stock list; its recommendations are analysis, not guarantees of future returns.
Kiplinger’s November 2026 stock report points investors toward industrials and materials, arguing that those sectors have posted comparatively strong average returns in November across several historical groupings. The supplied excerpt identifies SPX Technologies and GXO Logistics as industrial picks, but ends before naming the other two stocks, so the complete four-stock selection cannot be verified from the material provided.
The report says it selected sectors using 20 years of November performance, including all Novembers, election-year Novembers and midterm-year Novembers. It states that materials and industrials ranked at least among the top five sectors in each grouping. Its table lists the industrial sector’s proxy, the Industrial Select Sector SPDR Fund (XLI), with an average November total return of 3.48%; materials’ proxy, the Materials Select Sector SPDR Fund (XLB), averaged 2.94%. The table gives a 2.36% average across the listed sector proxies.
Kiplinger says its individual stock selections also drew on average broker recommendations compiled by S&P Global Market Intelligence. For SPX Technologies (SPXC), the excerpt reports 13 Buy ratings, one Hold and no Sell ratings. It describes the company as a maker of HVAC, detection and measurement equipment, and says the shares were down nearly 20% year to date as of the report. The report also cites a price of 19 times next year’s earnings and a PEG ratio of 1.
The second named industrial pick is GXO Logistics (GXO), which the report describes as a contract logistics provider involved in warehousing, distribution, order fulfillment and e-commerce services. The supplied text stops partway through its discussion of GXO, so it does not provide the report’s complete case for the stock or identify the two remaining picks.
Why Industrials and Materials Stand Out
The report’s sector argument challenges the assumption that November’s shopping season automatically makes retailers and technology the strongest places to look for stocks. Kiplinger notes that Bain & Co. estimated $85 billion in spending between Black Friday and Cyber Monday in 2026, nearly 9% above the same period a year earlier. But it argues that this expected spending does not by itself establish an advantage for consumer discretionary companies, which compete for the same customer dollars, or technology stocks, which have historically been relatively weak in November.
That distinction matters to readers because the report treats seasonal sector performance as a screening tool, not as proof that any stock will rise. Historical averages describe past market behavior, while company results, valuations, interest rates and investor expectations can change. The reported sector returns are not forecasts, and the excerpt does not establish that the named stocks will outperform in November 2026.
The political calendar is another reason the report emphasizes historical data rather than a confident election prediction. It argues that calls about which sectors will benefit from election outcomes can be wrong. That is a view expressed by the report, not a guarantee that historical patterns will persist or that election-year market behavior can be reliably anticipated.
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The Report’s Seasonal Method
Kiplinger frames the piece as a search for November investment candidates while setting aside two attention-grabbing factors: holiday shopping and the upcoming political cycle. Its sector comparison uses SPDR sector funds as proxies and reports average total returns for November over a 20-year period. The table places industrials first and materials second among the listed sectors, followed by financials at 2.86% and health care at 2.67%.
The source includes a qualification for communication services and real estate: the relevant sector funds launched in 2018 and 2015, respectively, after sector classifications changed. Kiplinger says those figures were adjusted using a market-average-difference factor to estimate performance in earlier periods. That means the figures for those sectors are not simply observed fund returns across a full 20-year history.
For the stock-level screen, the report says it used average broker recommendations from S&P Global Market Intelligence and dates the data October 29, 2026. SPX Technologies is presented as a company with exposure to HVAC and infrastructure-related equipment. The report attributes optimism about its business prospects to Oppenheimer analyst Bryan Blair, who points to HVAC growth, infrastructure and defense spending, and the company’s acquisition strategy. GXO is introduced as a logistics services company, but the supplied excerpt does not include the rest of that analysis.
“Predictions about which sectors are set to outperform or lag are too often just plain wrong.”
— Kiplinger columnist Dan Burrows, quoted in the report
Two Picks Missing From the Excerpt
The source material provided ends during the GXO Logistics discussion. It does not name the other two stocks in the headline’s four-stock list, nor does it include the remainder of GXO’s analysis. The full report may contain additional details, but they are not available in the supplied text.
The historical return figures are described as averages, but the excerpt does not provide the underlying year-by-year results, a measure of volatility, or enough detail to assess how consistently the sectors outperformed. It also does not establish how the 2026 market environment compares with the prior periods. Analyst recommendations and price measures are dated October 29 and may change.
Finally, the report’s favorable language about SPX Technologies is attributed to an analyst. The excerpt does not provide company guidance, future earnings results or evidence that the predicted business growth will occur. No return is guaranteed, and stocks can lose value.
Full List and November Performance
Readers seeking the complete selection would need the full Kiplinger report to verify the remaining two stocks and review the missing GXO discussion. The report’s cited ratings and market data reflect conditions on October 29, 2026, rather than updates throughout November.
Whether the seasonal thesis holds can only be assessed as November trading and company news unfold. Investors can compare actual sector and stock performance with the report’s historical averages, while recognizing that a single month’s results do not confirm a durable pattern. This article summarizes the supplied report and is not a recommendation to buy or sell any security; investing involves volatility and risk of loss.
Key Questions
Which two stocks does the supplied report excerpt name?
It names SPX Technologies (SPXC) and GXO Logistics (GXO). The excerpt ends during the GXO section and does not show the other two selections.
Why does Kiplinger favor industrials and materials for November?
The report says those sectors ranked at least among the top five for average November returns over 20 years in all-November, election-November and midterm-November groupings. Past performance does not predict future results.
What analyst ratings does the excerpt report for SPX Technologies?
Kiplinger reports 13 Buy ratings, one Hold and no Sell ratings for SPX Technologies, based on average broker recommendations. Ratings can change and do not guarantee a stock’s performance.
Does the report say holiday shopping will lift retail stocks?
No. It cites Bain & Co.’s estimate of $85 billion in Black Friday-to-Cyber Monday spending in 2026, nearly 9% above the prior year, but argues that this spending alone does not establish an advantage for consumer discretionary stocks.
Are the four stocks confirmed as good investments?
No. The report presents stock ideas based on historical sector returns and analyst opinions; those are not guarantees. Stock prices can fall, and investors can lose money.
Source: kiplinger.com
